• Here We Go Again With The Post

    by | May 6, 2024 12:35 am | Opinion

    The Washington Post is on the attack again, publishing a story last Friday on the overuse of 911 calls when a resident falls in assisted living or independent living, and how some towns are starting to charge seniors housing communities a fee for each 911 visit of this sort. Apparently, in some towns these 911 “fall” calls have been rising. If we... Read More »

  • Bourne Acquires AL/MC Asset (with HUD Debt)

    by | May 3, 2024 3:33 pm | Acquisitions

    Representing a regional owner/operator, Evans Senior Investments successfully sold Trinity Hills of Knoxville, an 80-unit assisted living/memory care community in Knoxville, Tennessee. Built in 2006, the community features 66 AL and 14 MC units, all serving private pay residents. Occupancy was strong at the time of marketing, at 92%, and it... Read More »

  • Berkadia Finances Clarendale Clayton

    by | May 3, 2024 3:28 pm | Financings

    Berkadia refinanced Clarendale Clayton, a best-in-class seniors housing community in Clayton, Missouri (St. Louis MSA), that offers the full continuum of care in a high-end, resort-style setting. Opened in 2021, the 13-story property features 283 units of independent living, assisted living and memory care.  Managing Director Austin Sacco of... Read More »

  • Multifamily Investor Buys Ohio IL Community

    by | May 3, 2024 3:25 pm | Acquisitions

    An independent owner/operator chose to strategically divest its 102-unit independent living community in a prominent suburb of Cleveland, engaging Blueprint to get the deal done. Built in the late 1980s, the purpose-built community was stabilized, cash-flowing and well occupied. Plus, there was upside through a capital deployment plan. Few of... Read More »

  • Dwight Capital Announces Q1 Activity

    by | May 3, 2024 3:23 pm | Acquisitions, Financings

    Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $152.5 million in transactions during the first quarter of 2024. Among the transactions were a $44 million bridge loan for a 369-bed, seven-story skilled nursing facility in the Southwest U.S. The bridge loan, which closed in conjunction with a $5 million revolving line of... Read More »

Another $200,000+ transaction

by | Sep 11, 2015 8:31 am | Acquisitions

We have written recently about a drop in the average price (on a price per unit basis) for seniors housing transactions from its all-time high in 2014. However, in the midst of some very low transaction prices (one as low as $11,200 per unit/bed), there have been seven deals since the beginning of August with a price above $200,000 per unit. One of them was the acquisition of a 145-unit assisted living community in Park Ridge, Illinois by Capitol Seniors Housing (CSH) for approximately $32 million, or $220,700 per unit. Originally built as a hotel and then converted to senior living, the new owners plan to convert 14 AL units into 20 memory care units in a separate wing. The buyer also... Read More »

Would you buy a Certificate of Occupancy?

by | Apr 29, 2015 7:33 pm | Acquisitions, Developments

There is always a good amount of risk when purchasing a seniors housing community at Certificate of Occupancy. While you avoid the risks associated with development and construction costs, you are saddled with the burden of fill-up. But Capitol Seniors Housing (CSH) is up for the challenge, having recently purchased, along with its joint venture partner Harvard Management Company, a 92-unit/109-bed assisted living/memory care community in Tampa, Florida. The newly opened community was developed by a joint venture between Walt Chancey and Rookis Development Company and presold to CSH prior to breaking ground for an agreed price of $20 million, or $217,400 per unit. CSH has brought in The... Read More »

Big investment from Capitol Seniors Housing

by | Feb 18, 2015 8:29 pm | Developments

Capitol Seniors Housing (CSH), a real estate investor/developer specializing in seniors housing, recently announced that it had invested over $90 million in four senior living developments, all set to open in 2015. For roughly $34 million, or $312,000 per unit, CSH plans to open a 109-unit assisted living/memory care community (which includes a 39-unit freestanding memory care community) this month in Torrance, California, to be managed by Integral Senior Living. In May, a 79-unit AL/MC community (with 54 AL units and 25 MC units) is expected to open for a total cost of approximately $23 million, or $291,000 per unit. The building is located in Marlboro, New Jersey, which is about 30 miles... Read More »